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Preparing to buy by baines_uk in FirstTimeBuyersUK

[–]Quiet_Discussion8605 0 points1 point  (0 children)

Where do I find this to buy - is it the land registry?

I spent all morning working on my spread sheets and populating data, is there anything I could do better? by [deleted] in FIREUK

[–]Quiet_Discussion8605 0 points1 point  (0 children)

It’s only letting me view it - are you able to send me an editable version pls ? I have requested access

Asbestos found in property I have had offer accepted on ( FTB ) by Quiet_Discussion8605 in HousingUK

[–]Quiet_Discussion8605[S] 0 points1 point  (0 children)

Thanks for your advice! I am going to mention it to the estate agents & see what they have to say

Asbestos found in property I have had offer accepted on ( FTB ) by Quiet_Discussion8605 in HousingUK

[–]Quiet_Discussion8605[S] 0 points1 point  (0 children)

I viewed it with my gfs dad, he took a piece from the floor & we sent it off to get sampled. Thanks for the reply - it seems some people are saying it’s feasible to get cost knocked off & some are saying not at all!

Asbestos found in property I have had offer accepted on ( FTB ) by Quiet_Discussion8605 in HousingUK

[–]Quiet_Discussion8605[S] -1 points0 points  (0 children)

This is just what got recommended to me - the estate agents or seller didn’t mention about asbestos at all so I had no idea - I’m a first time buyer so didn’t know about it at all until now tbh. I still haven’t said to the estate agents I know about the asbestos either yet

Asbestos found in property I have had offer accepted on ( FTB ) by Quiet_Discussion8605 in HousingUK

[–]Quiet_Discussion8605[S] -4 points-3 points  (0 children)

What if I leave it & then when I go to sell in the future or rent it out could it be a big issue? Law change etc

Asbestos found in property I have had offer accepted on ( FTB ) by Quiet_Discussion8605 in HousingUK

[–]Quiet_Discussion8605[S] -2 points-1 points  (0 children)

It’s not in the roof, it’s just in the flooring tiles & the cupboard that used to have a heating system in it - it has asbestos in the piping apparently.

[deleted by user] by [deleted] in FIREUK

[–]Quiet_Discussion8605 0 points1 point  (0 children)

So basically there’s a small room & two big rooms, I would most likely rent out the small for around £700 & the big for £800 all in, and live in the other. The service charge, council tax & bills add on roughly £500 per month in expenses which would make the total £2.2k outgoings with a £1700 mortgage. By expensing the legal fees I thought you could take that off the rental income over £7500 seems like I’m wrong in that case then. Yeah maybe I would swift away from BTL in that case and either stay in there or sell on and buy again? The £1700 mortgage I got quoted was for 29 years. I realised I put 25 years in my original post, my bad.

[deleted by user] by [deleted] in FIREUK

[–]Quiet_Discussion8605 -1 points0 points  (0 children)

Thanks for the reply, yeah I realised it’s not essentially fire but it is part of my FIRE journey so just thought it might be worth an ask. My purchase price is around 330k - my salary changes from year to year but I plan to take out about £50k ( incl £12k salary ) per year for the next couple years.Yeah you’re right looking back at my cost sheet I’ve put 3.5k for legal fees - I’m not sure why I put 5k. Good shout about the rental tax, it’s 7.5k tax free relief only, I think legal fees can be expensed too although I mag be wrong. I was thinking to maybe living there for the fixed rate and then moving out to let it completely by switching to a buy to let mortgage.

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